Indonesia’s Golden Visa Program Offers Residence for 5 to 10 Years, Boosting Economy
Indonesia’s highly anticipated Golden Visa program has released its official details, allowing investors, high-net-worth individuals, and aspiring business owners the opportunity to reside in Bali and throughout the nation for extended periods of 5 to 10 years. The initiative, introduced by Indonesia’s Director General of Immigration, Silmy Karim, aims to bolster the national economy through increased foreign investment and business development.
Tailored Options for Applicants
The Golden Visa program offers a range of application requirements and minimum investment thresholds to accommodate various preferences. Foreign individual investors seeking a one-year Golden Visa must invest a minimum of USD 2.5 million (IDR 38 billion), while those eyeing a decade-long visa should consider a USD 5 million (IDR 76 billion) investment.
Corporate investors interested in establishing companies in Indonesia under the Golden Visa scheme must commit USD 25 million (IDR 380 billion) to secure a 5-year visa for directors and commissioners. For a 10-year visa in this category, a larger investment of USD 50 million is required.
Notably, foreign investors not keen on establishing a company can still apply for the Golden Visa. On an individual basis, applicants must invest USD 350,000 (IDR 5.3 billion) in Indonesian government bonds, public company shares, or an Indonesian savings account to qualify for a five-year visa. To obtain the coveted 10-year visa, a deposit of USD 700,000 (IDR 10.6 billion) is necessary.
Director General Karim Emphasizes Quality Applicants
Director General Karim stressed the program’s focus on attracting high-quality individuals. The longer an applicant intends to stay in Indonesia and their level of investment activity can significantly impact the guarantee value, reaching approximately IDR 760 billion.
Accelerated Implementation
President Joko Widodo has mandated the completion of the Golden Visa program within six months. Over the past half-year, the relevant policies have been carefully crafted and reviewed, ensuring a robust framework for this initiative.
Perks of the Golden Visa
Golden Visa holders will enjoy a host of benefits, including simplified entry and exit procedures for Indonesia. Notably, they will be exempt from the typical requirement of applying for an Indonesian Limited Stay Permit (ITAS) upon arrival in the country.